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Bitcoin Surges Above $71,000 as Easing Geopolitical Tensions Lift Crypto Market Sentiment

Bitcoin Surges Above $71,000 as Easing Geopolitical Tensions Lift Crypto Market Sentiment

Markets gain momentum as easing tensions improve investor confidence.

Written by Rahul Dhingra, Edited by David Delima | Updated: 8 April 2026 12:40 IST

Bitcoin Surges Above $71,000 as Easing Geopolitical Tensions Lift Crypto Market Sentiment

Photo Credit: Unsplash/Kanchanara

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Highlights

Derivatives data shows rising bullish positioning in the market
ETF inflows surge to the highest level in six weeks
Liquidations accelerate Bitcoin’s upward price movement

Bitcoin traded near $71,700 (roughly Rs. 66.4 lakh) on Wednesday as the cryptocurrency market rallied following easing geopolitical tensions and improving investor sentiment. The world's largest cryptocurrency rose 4.3 percent in the past 24 hours after briefly crossing higher levels during the rally. Ethereum traded near $2,240 (roughly Rs. 2.07 lakh), showing stronger gains across the broader market. Bitcoin is currently priced around Rs. 66.3 lakh in India, while Ethereum trades near Rs. 2.07 lakh, as per today's price tracker.

As per market participants, the recent rally was supported by easing inflation concerns following a decline in oil prices, alongside strong ETF inflows and short liquidations. However, resistance near key levels and inconsistent institutional participation indicate that the market remains in a consolidation phase rather than a confirmed uptrend.

Ceasefire Developments Spark Renewed Risk Appetite

Altcoins traded largely higher on Wednesday. Binance Coin (BNB) was priced around $616.04 (roughly Rs. 57,074), up 3.01 percent, while Solana (SOL) traded near $84.64 (roughly Rs. 7,843), up 6.20 percent. XRP hovered around $1.38 (roughly Rs. 128), up 5.43 percent, and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.78), up 4.86 percent.

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Explaining the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin reclaimed the $72,500 (roughly Rs. 67.1 lakh) as investor optimism rose after US President Donald Trump announced a 2-week ceasefire between the US and Iran. The de-escalation led to a sharp relief rally across risk assets as markets priced in lower oil prices and restored global risk-on sentiment [...] BTC's long-term uptrend will depend on further geopolitical clarity and macroeconomic figures such as the US CPI data.”

Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “Markets had earlier priced a 40-45 percent probability of tighter policy or delayed rate cuts due to elevated crude prices. The easing of that pressure has supported risk assets, including crypt [...] Investors should avoid chasing short-term moves. A sustained breakout requires Bitcoin to hold above $72,000 (roughly Rs. 66.70 lakh) with consistent ETF inflows. The next key trigger is the US CPI data on April 10. A weaker print could support further upside.”

Overall, analysts said the recent rally reflects improving sentiment driven by easing geopolitical tensions and institutional inflows, but the market still requires stronger confirmation for a sustained breakout. Bitcoin's ability to hold above key resistance levels and maintain consistent inflows will remain crucial in determining the next phase of price action.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

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Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More